Monmouth: Fiscal 3Q Earnings Snapshot
{{#rendered}} {{/rendered}}FREEHOLD, N.J. (AP) _ Monmouth Real Estate Investment Corp. (MNR) on Wednesday reported a key measure of profitability in its fiscal third quarter. The results matched Wall Street expectations.
The Freehold, New Jersey-based real estate investment trust said it had funds from operations of $18 million, or 23 cents per share, in the period.
The average estimate of four analysts surveyed by Zacks Investment Research was for funds from operations of 23 cents per share.
{{#rendered}} {{/rendered}}Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.
The company said it had net income of $10.3 million, or 13 cents per share.
The industrial real estate investment trust posted revenue of $36.2 million in the period, beating Street forecasts. Four analysts surveyed by Zacks expected $35.3 million.
{{#rendered}} {{/rendered}}The company's shares have decreased slightly more than 6 percent since the beginning of the year. The stock has risen roughly 8 percent in the last 12 months.
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This story was generated by Automated Insights using data from Zacks Investment Research. Access a Zacks stock report on MNR at https://www.zacks.com/ap/MNR